Prominent silver bull and YouTuber ‘TruthNever Told’ believes Charlie Lee’s Litecoin sale was little more than cashing out of a Ponzi scheme, in which the creator created a rip-off of Bitcoin with no intrinsic value, convinced investors that it was valuable, and then cashed out at the top.

Those hoping to easily use their LTC at retail vendors were sadly disappointed, however, when the project shut down only one month later.

Though mistakes happen and it was good of Lee to apologize, BeInCrypto believes this instance further damaged the creator’s reputation.

(@SatoshiLite) March 26, 2018 LitePay serves as an example of why investors should not buy into the hype and conduct their own due diligence on hype-related developments connected to altcoins.